In an interview with CNBC on Friday, Chicago Fed President Austan Goolsbee emphasized that the market's attention should not solely be on the upcoming September meeting, but also on the Federal Reserve's actions over a series of future meetings. Goolsbee expressed that it is more important to consider the central bank's strategy for multiple rate cuts in the coming months rather than focusing solely on a potential 50 basis point cut at the next meeting.

Goolsbee stated, "I don't think that what happens at the next meeting alone is what is the most important." He highlighted the significance of looking at the larger plan for multiple rate cuts over several meetings. According to Goolsbee, whether these cuts are implemented all at once or spread out over several meetings, the timing is not as pressing as the overall strategy.

This perspective from Goolsbee highlights the notion that a comprehensive approach to interest rate adjustments is crucial for the Federal Reserve. It also emphasizes the need to analyze the central bank's actions over a longer period of time, rather than focusing solely on individual meetings.

Although the market often places significant emphasis on the outcomes of Fed meetings, Goolsbee's comments shed light on the importance of viewing the actions of the central bank through a broader lens. By considering the central bank's plan for multiple rate cuts over the next few meetings, investors and market participants might gain a more comprehensive understanding of the Federal Reserve's intentions and long-term strategy.

The September meeting, set to take place in two weeks, has been highly anticipated, with speculations mounting on whether the Federal Reserve will lower interest rates by 50 basis points. However, Goolsbee's remarks indicate that the true significance lies not solely in the outcome of this meeting, but in the Federal Reserve's intended course of action over a series of meetings in the future.

As investors await the outcomes of the September meeting, Goolsbee's advice serves as a reminder to consider the bigger picture and monitor the central bank's plan for multiple rate cuts. Understanding the overarching strategy may provide a more accurate and comprehensive view of the Federal Reserve's monetary policy decisions.